Released: 01 July 2021
Global Price Inflation Rises Fast to a 19-Month High in June
The June Business Confidence, Sales and Market Growth Indexes reflect a continuing but slow climb out of recession.
The Job and Profit Indexes continue to climb, but remain below the 50 "no change" level, indicating continuing economic uncertainty.
The Price Index rose to a 19 month high in June. Government actions to preserve business conditions during the pandemic, by turning on the taps of money creation and/or the bottlenecks in supply chains visible in many areas of activity are causing rapid price rises.
Supply chain shortages seem to provide the most logical answer at present, and the impact of monetary policy remains uncertain. However, as commerce starts to return to some semblance of normality over the next few months, it should become easier to judge whether the prolonged and gigantic episode of money creation has sparked a more profound period of dangerous price inflation.
Global Business Confidence Index
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